Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
July 10, 2006 02:00 AM

Dana, Desc dissolve Mexican joint venture

  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    TOLEDO, Ohio (July 10) — Dana Corp. and Desc S.A. de C.V. have completed the dissolution of their Mexican joint venture, Dana announced July 7.

    The closing of the transaction provides Dana with full ownership of several core operations based in Mexico, which will operate under Dana Holdings Mexico, S. de R.L. de C.V., a new Dana subsidiary.

    Dana and Desc dissolved their joint venture, Spicer S.A. de C.V., with Dana assuming 100-percent ownership of operations that manufacture and assemble axles, driveshafts, gears, forgings, and castings in which Dana previously held an indirect 49-percent interest.

    Desc, in turn, has assumed full ownership of the transmission and aftermarket gasket operations in which it previously held a 51-percent interest. Along with exchanging its minority interest in the joint venture, Dana also made a cash payment of $19.5 million to Desc.

    With the completed transaction, Dana has acquired full ownership of five manufacturing operations, which had combined sales — both to Dana and to third parties — of $296 million in 2005.

    As part of the transaction, Desc has assumed full ownership of Transmisiones y Equipos Mecanicos S.A. de C.V. (Tremec) and Transmisiones TSP S.A. de C.V. (TSP) transmissions, located in Queretaro, Mexico; Transmission Technologies Corp., with operations in Knoxville, Tenn.; and the T.F. Victor S.A. de C.V. aftermarket gasket operation in Mexico City.

    Dana will sell aftermarket gaskets in Mexico through T.F. Victor and original equipment gaskets directly to engine and vehicle manufacturers.

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    European rubber recycling gaining 'unprecedented traction'
    2
    Align Capital adds N.H. distributor to Marco Rubber & Plastics portfolio
    3
    Supply chain ā€˜scramble' likely to continue into 2023
    4
    Industry braces for return of Superfund excise taxes
    5
    Bridgestone christens Firestone race tire plant
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright Ā© 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION